Exercise E3.10 (LO 1,2,3, 4) The income statement of Gopitkumar Co. for the month of July shows net income of S1,400 hased cn Service Revenae $5,500, Salaries and Wages Expense $2,300, Supplies Expense S1.200, and Usilities Expense S600 In reviewing the statcment, you discover the follow ing Prepare coecr income sme Excel I. Insurance expired during July of 5400 was omitted Supplies expense includes $250 of supplies that are still on hand at July 31. Depreciation on cquipment of $150 was omitted Accrued but unpaid salaries and wages at July 31 of $300 were not included. 5. Services performed but unrecorded totaled S650. Instructions Prepare a correct income statement for July 2020. E3,11 (LO 1, 2, 3, 4) A partial adiasted trial balance of Gehring Company at January 31, 2020, shows the following Analyor ajusted das Excel Gehring Company Adjusted Trial Balance January 31, 2020 Credit Debit Supplies Prepaid Insurance Salaries and Wages Payable Unearned Service Revenue S 850 2.400 ntl S 800 750 Supplies Expense Insurance Expense Salaries and Wages Expense Service Revenue 950 400 2,900 2,000 Instructions Answer the following questions, assuming the year begins January 1. a. If the amount in Supplies Expense is the January 31 adjusting entry and $1,000 of supplies was purchased in January, what was the balance in Supplies on January 1? b. If the amoant in Insarance Expense is the January 31 adjusting entry and the original insurance premium was for one year, what was the total premium and when was the policy purchased? c. If $3.500 of salaries was paid in January, what was the balance in Salaries and Wages Payable at December 31, 2019? E3.12 (LO 2, 3) Selected accounts of Koffman Company are as follows. Journalise basic trunsactions adjusting entries Supplies Expense 800 7/31 Salaries and Wages Payable Supplies 1,100 7/31 800 7/1 Bal. 7/31 1,200 650 7/10 Accounts Receivable Unearned Service Revenue 7/31 500 1,150 7/1 Bal. 1,500 7/31 7/20 1000 Salaries and Wages Expense Service Revenue 1.200 1,200 7/15 7/31 7/14 2,000 1,150 7/31 7/31 500 Instructions Aer analvzing the accounts, journalize (a) the July transactions and (b) the adjusting entries that were da on July 31, (Hint: July transactions were for cash.)